Re: Loan Agreement
We refer to your letter Indesore/LJ/07/14 dated 18.06.2007. In order to draft the Loan Agreement we need to have details of the terms and conditions of the loan agreement (e.g., sanction letter, amount of loan, interest rate, mode of disbursement, schedule of disbursement, amortisation, delay in payment, cheque dishonour fee, security, condition precedent to disbursement of the loan, covenants, borrower’s warranties, remedies of Indesore Trading Ltd., events of defaults, waiver etc.), details of the borrower, details of the lender, i.e., Indesore Trading Housing and every relevant documents. As soon as we have these details we can draft the Loan Agreement.
In reference to your second query, if the borrower becomes defaulter in repayment, legal notice is to served upon the defaulter followed by the filing of the Money Suit in the Civil Court for the realisation of money. In case of dishonour of cheques, Criminal case under section 138 of the Negotiable Instrument Act, 1881 can be filed in the Criminal Court.
If you require further assistance, please do not hesitate to contact us.
For: “The Lawyers & Jurists”